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33194226
33194233

229 South Westlake Avenue, Los Angeles, CA 90057

JT
CA 01772495
Marcus & Millichap - Encino
Listed by Marcus & Millichap - Encino
$1,895,000
7 days on market
Updated 7 days ago

229 S Westlake Ave

Details
APN 5154-005-003
Property Type Multifamily
Sub Type Apartment Building
Square Footage 6,150
Cap Rate 7.56%
NOI $143,247
Price per SqFt $308
Year Built 1926
Buildings 1
Lot Size (SqFt) 6,254
Zoning LAR3

About This Property

Marketing description

GOOD ECHO PARK-ADJACENT LOCATION • RECENT CAPITAL IMPROVEMENTS - NEW SEWER LINE, UPGRADED ELECTRICAL SYSTEMS, AND UPGRADED COPPER PLUMBING

Investment highlights

Marcus and Millichap is pleased to present a twelve (12) unit apartment building located at 229 S Westlake Ave in Los Angeles, California. The subject property is located in a good Echo Park-adjacent location, just south of Beverly Blvd and east of Alvarado St.

Located in a strong Echo Park-adjacent location, the property features a streamlined unit mix of twelve (12) studio units and classic Spanish-style architecture. Recent capital improvements include a new sewer line, upgraded electrical systems, and upgraded copper lateral plumbing lines. The property is separately metered for gas and electricity and includes an on-site laundry facility. A rear courtyard and basement present potential ADU conversion opportunities for additional rental upside (buyer to verify). The property benefits from immediate access to the 101 and 110 Freeways, the Metro B Line at Westlake/MacArthur Park Station, and major commercial corridors including Beverly Blvd, Alvarado St, Temple St, and 3rd St. Nearby amenities include Echo Park Lake, Vista Hermosa Park, dining, shopping, and entertainment options.

With recent capital improvements, attractive ADU conversion potential, classic Spanish-style architecture, and a solid Echo Park-adjacent location near major transit corridors and neighborhood amenities, the property offers a compelling value-add opportunity in one of Los Angeles’ most dynamic rental markets.

Listing Contacts

JT
CA 01772495
Marcus & Millichap - Encino
Listed by Marcus & Millichap - Encino

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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$143,247.00
$11,937.25/mo

Valuation Metrics

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DSCR
7.56%
Cap Rate
7.56%
ROI

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